Financial Times: Is Venezuela finally ready to sell Citgo?

citgo-lemontRuss Dallen of Caracas Capital Markets told beyondbrics by email:

They would like to sell it, but they are trying to talk up their book. It is worth about $5-7bn, not the $10-15bn they were are trying to assert they have offers. But, they need the money. They have huge dollar shortages at home. They have 2 bonds for $4.5 bn maturing in October to pay off, in addition to high interest, and they are also concerned about the large arbitration judgments that loom in their future.

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